Figure 38. Average annual growth rates of realGDP and economic factors, 1995-2025 (percent) GDPNonfarmemployment Productivity ... The output of the Nation’s economy, measured by gross domestic product (GDP), is projected to grow by 3.0 percent per year between 2002 and 2025 (with GDP based on 1996 ... ’s forecast for the same period. Labor productivity growth in the nonfarm business sector

from 1992Q1 to 2004Q3 C/P is the real wage cost ((wages + employers social contributions) / employment)/GDP deflator fullWT is the average number of hours worked per week, full-time ... in equation above. Moreover, the increase in part time employment can also have led to lower productivity per capita. Lastly, a structural break in productivity trends ... that under the assumption that productivity growth equals the real wage cost, productivity growth could

economic growth rate (dotted black line) to changes in real per capita state spending (solid ... the generally negative relationship between Maryland’s real per capita spending growth and Maryland’s real per capita income growth. when the growth in real per capita spending declines (solid red line goes down), the growth in real per capita income tends ... state expenditures per capita in 2006 were nearly equal to the U.S. average

of growth of realGDP that could be sustained with the economy at full employment ... to household employment, the workweek, labor productivity, and the ratio of realGDP ... the workweek, labor productivity, and the ratio of realGDP to nonfarm business output